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Waiting For The Benefits?

When you begin debt review, your primary focus is, understandably, on getting out of debt.

It’s a great long-term goal that probably motivated you to make the decision to get help in the first place.

Not only does it help end the all the nasty, stressful collections calls, but the process finally gives us a realistic plan to pay off all our debts.

But that might take some time.

Did you know that debt review also gives you the chance to make some other changes that can benefit you right away?

Taking Time To Think About Things

When you are being hounded by collections agents and scary letters and lying awake at night stressing, it can mess with the way that you think about things.

You can get stuck in the fight or flight mindset and suddenly even little things can seem like huge problems that need to be solved right away. It can leave you exhausted and rushing into multiple bad decisions.

Entering debt review allows you room to breathe, giving you time to think about the choices set before you. One of the benefits of entering debt review, is the time it gives you to make these important decisions.

When presented with a required item on sale or a large unexpected expense, you don’t have to rush to make a decision, you can take a moment to think things through.

This gives you time to consider if you really need the item or if it’s just something you want. It’s easy to get caught up in the moment and buy things impulsively, especially with all the advertisements bombarding us every day. But by taking a little time to think, you can differentiate between your needs and wants.

When you pause before buying, you also give yourself the opportunity to reflect on your overall financial goals. You can ask yourself questions like, “Is this purchase going to blow my budget?” or “Will buying this item bring me long-term happiness, or is it just a temporary fix?” Sometimes, just a few minutes of reflection can help you realize that you don’t really need the item or that it’s not worth the money.

Some people say it is a good idea to drop items into a wish list or online shopping basket and then let them sit for 2 days before you make any decision. Give yourself time to think about it.

Even when presented with a so-called emergency, you can also pause and consider if there are other ways to deal with the problem other than just reaching for a credit card (since you won’t be able to do that anymore anyway).

Often there are many ways to deal with a situation other than just throwing money at it. Some solutions just take a little longer, but on the up-side they won’t destroy your financial goals.

Learning to Say No

Saying “no” is an important life skill, especially when it comes to managing your finances.

Saying “no” means setting boundaries and sticking to them, even when it’s difficult. When you’re on a tight budget, it’s important to prioritize your needs over your wants. This might mean saying no to that expensive dinner out or that impulse purchase you’ve been eyeing.

In the past, this may have been one of the many small factors that was slowly sinking you deeper and deeper into debt without realising it.

But saying no isn’t just about denying yourself things you want. It’s also about protecting your financial well-being.

For example, when family members or friends ask for financial help, it can be hard to say no. But if we’re already struggling to pay off debt, taking on someone else’s financial responsibilities can set us back even further. By explaining your situation and politely declining, you can maintain your financial stability and focus on your long-term goals. There may be a few moments of disappointment but if your family member can’t afford it, then surely they can understand you also not being able to afford it…


Another situation where saying no is crucial is when collection agents call asking for money. It’s common for them to use aggressive tactics to pressure you into paying, like saying that they see no record of the debt review or that they can give better deals than via debt review but don’t be fooled. There is no need to just agree to get them to go away or pressure to make unrealistic promises. You can learn to stand our ground and say, “Talk to my Debt Counsellor.”

No more lying about what and when you can pay. Rather, you can simply point them to the financial expert you now have in your corner who is helping you get out of debt.

Debt Review is a Marathon But…

It is true that debt review is not a quick fix. It is a slow and steady way to get out of debt while caring for your daily needs. It is a marathon and not a sprint.

But entering the process also gives you new opportunities. It gives you a chance to change the small habits you had in the past that were making your lives worse.

By learning to take time to consider purchases (and even emergencies) as well as by learning to say “no” to others and ourselves, you can take firm control of your finances.

You don’t have to wait years to get the benefits of debt review. They start from day one and involve much more than paying off your debts.